Venture funding rises in 2Q; NGM, Audentes and Lithera grab 3Q deals
This article was originally published in Scrip
Venture capital funding for US health care companies ramped up in the second quarter of 2013 after several quarters of decline compared to year-ago levels, and recent deals show significant venture dealmaking for biotechnology companies to kick off the third quarter of this year.
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Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.
Private Company Edition: Recent VC financings across biopharma sectors include three major mega-rounds as Generate Biomedicines bringing in $370m, followed by $250m for Acelyrin and $125m for Chroma Medicine. Also, Treadwell raised a $91m series B and Ncardia brought in $60m-plus.
Dozens of health care-focused special purpose acquisition corporations have gone public during the past two years but many biopharma firms that have merged with SPACs have not performed well to date, raising the question of how long the SPAC boom will last.